Greece Approves 2011 Austerity Budget 12/23/2011: 156 to142

I know many are keeping an eye on Greece, so I thought I'd provide this info for your dissemination. Economics is not something I really keep up with, so I will leave it to others to interpret what this may mean for Greece or the larger global economy.

Austerity Budget Approved In Greece
Written By Carol Anne Hunt on Thursday, December 23rd, 2010
indiepropub.com...

Greece Approves 2011 Austerity Budget
By Dimitris Kontogiannis in Athens
Published: December 23 2010 09:07 | Last updated: December 23 2010 15:41
www.ft.com...

The Greek parliament approved an austerity budget early on Thursday that aims to slash the country’s deficit to 7.4 per cent of gross domestic product in 2011 from a projected 9.6 per cent in 2010.

The budget was passed to secure future disbursements from the €110bn EU-IMF package and contains tax rises and spending cuts, amounting to €14bn ($18.3bn).

Good news. Still lots of problems but they are moving in the right direction.

Originally posted by kwakakev
Good news. Still lots of problems but they are moving in the right direction.

You call that Good news and are moving in the right direction? alot of people in Greece are agaisnt the Austerity Budget.

Not to mention people are still losing there jobs in greece.

The IMF has laid to waste every country they have ever dealt with. If this
does not devastate Greece then it will be an anomaly.

reply to post by orbitbaby

The IMF has laid to waste every country they have ever dealt with.

Agreed. There are many reasons behind this, but their has also been some benefits. Please don't throw the baby out with the bath water just yet. Their opinion is important as they have some insights into some of the problems. The world now knows it is up to the world to decide, especially with a difficult topic this critical.

www.bibliotecapleyades.net...

reply to post by Agent_USA_Supporter

alot of people in Greece are agaisnt the Austerity Budget.

Only because they don't understand it and it's implications. The whole worlds economy is on a knife edge, things are tense everywhere. One bad step and the whole house of cards come down. How do you think it would look in a city with millions of people where all trade is to suddenly stop? The shops have no food, people have no security, earth falls back into a barbarian culture just to survive. Simply, the whole thing is about supply and demand. Anyone in the game knows the only value of money is what the people put into it. This is a numbers game as well, it is many things, many problems. We can only that them one step at a time.

www.bibliotecapleyades.net...